OSYB Blog: Number Crunch!
News and Views from OutSource Your Books, LLC
Is Your Small Business IT-Astute?
November 16, 2017 by OSYB Staff
Peter Weill, senior research scientist and chairman at MIT’s Sloan Center for Information Systems Research shared that, “IT-savvy firms have margins 20 percent higher than the industry average. Firms with less than average spending and savvy have margins 32 percent lower than their industry.” Surely, you want your small business to be part of the […]
Stay on Top of Your Customers’ Concerns
November 15, 2017 by Ed Becker
Poor customer service often leads to lost customers. One would think that businesses would work on problems as they arise, unfortunately that is not always the norm. Sometimes, problems are handled on a case by case basis and businesses forget to look at the root cause of problems that reoccur. Reoccurring problems are often indicative […]
Accountant Consider Rebranding Thyself
November 13, 2017 by OSYB Staff
It appears that accountants should consider rebranding themselves as a hiring trend shows that small businesses do not include accountants in their top ten positions to recruit. Here are the current 5 top finance jobs in demand by small businesses: Business Analyst Business Development Manager Data Analyst Estimator Audit Manager Unfortunately, accountants are facing archaic […]
Documenting Your Business Auto Usage is Critical
November 7, 2017 by OSYB Staff
Small Business Profit Explosion underlines how you can appropriately document your business auto usage and help to avoid thousands of dollars in extra taxes and accountant fees, if you are audited. Your auto business log should include: All vehicular expenses, including purchase price, vehicle improvements, lease payments, repair and maintenance, gas and other expenses. The […]
Understanding Payout Ratio
November 2, 2017 by OSYB Staff
Typically expressed as a percentage, payout ratio is the proportion of earnings paid out as cash dividends to shareholders. How do you calculate the payout ratio? Payout ratio = dividends per share / earnings per share. To obtain a deeper understanding of a company’s payout ratios you should review these relevant components: cash from operating […]
Why You Should Incorporate Financial Forecasting
October 26, 2017 by OSYB Staff
U.S. Small Business Administration’s guest blogger, Tim Berry, shares reasons why you should include forecasting in your small business management plan. You need to forecast so that you can clearly see the connections between sales, costs and expenses. When you closely monitor the fluctuations, you can make adjustments for example: if sales are down you […]
How Savvy Are You About ACH Payment Methods for Your Business?
October 24, 2017 by OSYB Staff
Sometimes, its good to start from the very beginning. ACH payments stands for Automated Clearing House payments. You are most likely regularly using ACH methods especially if you automate your bill payments. More pertinently, you should find out if your small business can benefit from incorporating ACH payment methods. Intuit QuickBooks shares a very detailed […]
Is Your Financial Plan Up-to-Date?
October 19, 2017 by Ed Becker
Fall is here, and all around there is a bustle as nature prepares for the winter. Perhaps this is a good time of year too, for you to meet with your accountant, and make sure that you have enough squirreled away for your future. It is a good idea to scrutinize your financial plan at […]
